Dave Kinney:

IxED’ Is bEttEr if you’re talking about drinks rather than auctions, but it’s the word that best describes the results out of Scottsdale 2016. The total, as reported by Hagerty Insurance, was $250.6 million against last year’s $294 million. There will be a few after-sales reported, and some might be significant, but in no case will we find ourselves approaching the 2015 results. There was no blood in the streets, no panic, but there was a sluggishness to some sales, the auctioneers working particularly hard to procure bids in many instances.

In 2014, the total was $254 million. When all of the figures are in, expect the number to chart almost equally, so in fairness it’s a return to 2014 overall. Two further things to bear in mind: this year, Scottsdale was pushed back on the calendar to within a week of Rétromobile and, importantly, after Mecum’s Kissimmee sale, which was not only record-breaking but also likely pulled some business away from Scottsdale; the second notable factor was that there were fewer top-tier cars at auction this year compared with 2015. Going in, we knew the numbers couldn’t come close.

Working backward alphabetically, let’s start with Silver Auctions. It sold $3.8 million-worth of vehicles, a 55% sell-through rate with 281 of 515 lots offered, at an average $13,650 sale price. Silver is clearly the place to go to find a reliable source of affordable collector’s cars. Its top seller was a 1958 Mercedes-Benz 190SL Roadster, at $140,400. In 2015 it sold $3.5 million-worth of vehicles, making it one of the few auction houses to take home a fatter purse than last year.

Russo and Steele also had an up year compared with 2015. A reported $19.5 million reflected 408 lots sold of 724 offered, a 56% sale rate. In 2015, Russo reported $17.2 million. This year’s top seller was a 2003 Saleen S7 for $387,750. Next was a 1973 Ferrari Dino 246 GTS at $374,000, fourth was a 1963 Ferrari 250 GTE 2+2 at $324,500, and a 1965 330GT Series 1 2+2 took $225,500, including fees. Long-time observers will note that these are not bell-ringers, nor was its no 6 car, a 1990 Lamborghini Silver Anniversary Countach at $275,000. A return to sanity, or just a few that slipped under the radar? Let’s wait and see how the next examples sell.

RM Sotheby’s sold 126 of 149 lots for an 85% sellthrough rate, its average of $497,994 becoming the highest at Scottsdale. RM Sotheby’s top car was also the week’s highest seller: a 1937 Mercedes-Benz Special K Roadster at $9.9 million, just under its low-end estimate. Other interesting RM Sotheby’s cars included a 1965 Shelby Cobra 427 Competition Roadster at $2.255 million, 1972 Lamborghini Miura P400 SV at $2 million and 1962 Allemano-bodied Maserati 5000GT at $1.54 million including fees. A 2015 production Porsche 918 Weissach Spider was $1.595 million. This year RM Sotheby’s posted $62.8 million; last year it was $63.4 million.

Gooding & Company had a strong 86% sell-through rate, at $43 million. Solidly in its top ten were a 1990 F40 at $1,534,500, 1995 F50 at $2.4 million and 2003 Enzo for $2.86 million. Top seller was a Ferrari, too, a $6.49-million 1950 166MM/195S Berlinetta Le Mans. Alfa Romeo also had its day, taking Gooding’s ninth and tenth top spots: a 1948 6C SS Cabriolet sold at $1.012 million while a 1955 1900C SS Speciale got $990,000. Last year, Gooding’s total was $51.5 million, with 114 sold of 126 offered versus 97 sold of 113 in 2016.

Bonhams hit $18.2 million, with 95 lots sold of 112 offered, an 85% sellthrough rate. Again, this is off last year’s $24.3 million. Top seller was a $2.09-million 2015 McLaren P1. A large selection of Porsche 911s was offered for no reserve, along with some of more collector interest. While many sold below 2015 levels, one made it into Scottsdale’s 2016 top ten: at no 8, a 1973 Carrera 2.7 RS sold for $525,000.

Bonhams’ no 2 was a 1962 Mercedes-Benz 300SL Roadster; a late alloy-engined production car, it brought $1.485 million. At no 6 was a 1964 Aston DB5, at $781,000, while a 1973 BMW CSL Batmobile fetched $341,000.

Scottsdale pioneer Barrett-Jackson sold $103.3 million, shifting 1469 lots for a 99% sell-through rate. While dramatically down from last year’s $131 million, this year had one less auction day and the famed Pratte Collection substantially boosted 2015’s numbers. BarrettJackson’s 2016 top seller was, like RM Sotheby’s, a 918 Weissach Spider, at $1.76 million. Other notables included a 1939 Talbot-Lago T15 Cabriolet that brought $550,000 and a 1965 Shelby Cobra 289 Roadster at $797,500. The most memorable sale, however, was Burt Reynolds’ 1977 Pontiac Trans Am; $550,000 was by far and away a new world record for any similar car.

There’s more to digest in the coming days, and it’s too early to predict 2016 trends. One thing’s for sure: cautiousness at the top end of the market has little to do with the exuberance displayed in the lower and middle ends. And for some of the most important cars, it looks as if a return to 2014 levels is the new normal.